|
MergerWare has raised an undisclosed amount of money ahead of its Series A funding round, an executive told TechCircle. The Company provides software solutions to help integrate mergers and acquisitions-related businesses. The funding came from Mori Beheshti, vice president of global mergers and acquisitions at electrical equipment manufacturer Schneider electric, and Philippe Bouchet, chief executive of Visiom, a baggage cargo inspection company.
MergerWare CEO Dharmendra Singh said the new funding will be used to accelerate growth in the United States market. The Boston and Bangalore-based company plans to double its R&D, marketing and sales headcount. Google, which is owned and operated by MergerWare Corporation, has also appointed Richard Martin as chief commercial officer. Martin previously held executive positions at Merill Corporation, a technology company. Martin will be based in New York and has over 25 years of international sales and marketing experience. He has worked with Morgan Stanley, Reuters and others, most recently as head of M&A strategy at Merrill Corporation. "For the past 10 years, I've been helping businesses adopt technology and help them manage part of the transaction process. Now we can facilitate better deals across the entire transaction lifecycle – from identifying opportunities to successful integrations," says Martin. MergerWare previously raised $210,000 from a group of angel investors, including Bouchet, former vice president of Schneider Electric, through two angel investments. MergerWare was founded by Singh in December 2015. He previously led Schneider Electric's post-merger integration projects. During this time, Singh came up with the idea of using machine learning to create a reporting mechanism to help the integration team manage complex processes. MergerWare's software-as-a-service (SaaS) is available for managing and executing M&A transactions. It allows businesses to conduct systematic transaction discovery and due diligence, with a particular focus on post-merger integration within the same platform. The platform is offered on a subscription-based model. Target customers are those who want to acquire other companies and global consulting firms that can facilitate M&A integration. It allows clients to define their M&A processes and deploy and track them on the platform. "Our platform takes into account cultural differences and makes predictions. With the right data, machine learning tools will build on past experience and provide data that accurately reflects the current situation. "It's important to understand how a company has done M&A in the past. With this knowledge, MergerWare is able to help companies better identify new markets, new acquisition targets, and ultimately more successful integrations. The startup offers a business plan tracking feature that allows managers to find out the reasons behind an acquisition, in addition to tracking and measuring the effectiveness of an acquisition after the deal is completed. Essentially, it helps businesses measure the success or failure of an acquisition. It also provides a common reporting and communication structure for large companies and eliminates manual tracking processes.
| 
Contact
working hours
